Domestic production grew from January to November and is expected to reach 33.7 million tonnes by the end of 2024. Imports also increased over the period, but exports fell.
Author: Agência Brasil
Oil is on track to become Brazil’s main export product in 2024. This will be the first time in history, according to data from the historical series that began in 1997.
The Brazilian state-run oil firm has approved a business plan for 2025-2029, with projected investments of USD 77 billion in exploration and production, USD 20 billion in refining, transportation, and marketing, and USD 11 billion in gas and low-carbon energy.
Economic activity picked up by nearly 1% month-on-month and by 5.1% year-over-year in September as per Brazilian Central Bank figures.
The Brazilian company saw a decline in oil production in the third quarter but posted a record high in the share of pre-salt oil in refineries and an increase in the production of oil products. In September, it achieved the best monthly result for the utilization factor of its refining capacity.
The declaration from the summit of the bloc, which is taking place in Russia, advocates for changes in international organizations, allowing more space for less developed countries. Brazil’s President Lula participated online. Thirteen new countries will be invited to join BRICS as partner states.
The Brazilian Chamber of Foreign Trade raised the import tax to 25% on certain iron and steel products and also increased rates on other items, including sodium chlorite and optical cables. Conversely, tariffs were eliminated for three products, including polyester threads.
The federal government announced the “Rice for the People” program to promote the rice production and stockpiling in the country. The goal is to stimulate the harvest of additional 500 thousand tonnes.
A second Brazilian Air Force aircraft deployed to Beirut to rescue Brazilian citizens carried 20,000 syringe-and-needle kits and 4,000 needles to be donated. Lebanese people are in a state of emergency.
At a meeting of the G20 Sustainable Finance Working Group in Rio, Brazil received backing from member countries for its proposal to improve the functioning of climate and environmental funds. The goal is to ensure that resources reach the countries in need more quickly and effectively.
Embrapa, Brazil’s agricultural research agency, and the Inter-American Institute for Cooperation on Agriculture (IICA) will sign a cooperation by the end of the year to bring 30 technicians from African countries for training at Embrapa facilities. The schedule and countries have not yet been defined.
The group of major world economies is having a week of activities in Rio de Janeiro from Monday (22) through Friday (26). High-level meetings on finance and development will be held, along with the pre-launch of the Global Alliance against Hunger and Poverty.
São Paulo governor and secretaries are on a roadshow to the United States, United Kingdom, and Portugal to present to investors the model of public offering of stocks of local water utility Sabesp.
Brazilian oil company approved the resumption of operations of plant ANSA, which is located in southern state Paraná and has been mothballed since 2020. Fertilizer production became part of Petrobras’s 2024-2028 strategic guidelines.
